Actually "WE" have spent over Two Trillion Dollars on the "TARP" Plan, not $700 billion. and the Tresuary has yet to buy ONE peice of "Bad Paper" Chase Bank is gonna use its 25 Billion for buying other "In Trouble" smaller banks....not to free up its credit lines to the US Consumer.
And now all that Bad Paper,Credit Default Swaps,Subprime Ajustible Rate Mortages (ARMs), is coming due....and who owns a lot of this "Bad Paper" you might ask? The Chiniese,Japanese,India! and their gonna wanna be paid!